University Incubators

University business incubators are an important resource for entrepreneurs and researchers. Business incubator programs often provide a variety of resources, guidance, and robust networking opportunities that are critical to launching innovative startups. GeorgiaTech has a particularly strong business incubator program. The university is home to the Advanced Technology Development Center—the oldest incubator in the United States—and VentureLab, which launched in 2001 and serves only university faculty, staff, and students. In Texas, Rice University’s Alliance for Technology and Entrepreneurship has a strong positive economic impact on the state. Since its inception in 2000, the Rice Alliance has assisted in the launch of more than 311 technology startups, which have raised more than $1.3 billion in early-stage capital. Today, 128 graduates are still in business and have raised more than $460 million in funding. States could evaluate the higher education system and take steps to create similar university business incubator programs. Creating programs aimed at allowing student and faculty entrepreneurs to unlock their potential and grow startup companies would provide a structural engine for innovation and commercialization of new technologies.